Posted under Startups
from 1552 days ago

A year ago today, CEO Mark Zuckerberg “rang the bell” to open trading in one of the most hotly-anticipated initial public offerings in history as Facebook hit the stock market. And promptly went splat.

Today, not that much has changed.

After debuting close to $40 and cratering to just under $18 in August 2012, the stock has somewhat stabilized in the $25 region, down 30 percent from its open-day high. And along the way, the story emerged of how Facebook tried to hide some of the mobile risk inherent in its business, and how the company panicked and botched its IPO by using vague positive language in its public prospectus and, apparently, specific negative information about slowing revenue growth to institutional investors privately.

Not to mention the $100 million paid to banks to stabilize the stock — on top of $176 million in IPO fees — for efforts that ultimately failed. And ...


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